CRYPTO of the week BTCUSD failed to hold
BTCUSD 1H EUROPE UPDATE - 16/05/2018
bitcoin failed to hold the lows from yesterday and triggered a bearish sequence in the 1h for a double correction.
From current levels, we can go down with first sequence around 61.8%-76.8% extension of equal leg area before a short lived bounce and lower.
The situation is not critical yet as the structure from the highs is corrective but I would rather stay on the sidelined for now in BTCUSD and prefer other instruments in coming sessions until uncertainty is resolved.
I don't like to sell here or higher either.
Tomorrow daily video will explain the different scenarios in the 4h time frame.
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 13/05/2018-19/05/2018, I propose BTCUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
bitcoin failed to hold the lows from yesterday and triggered a bearish sequence in the 1h for a double correction.
From current levels, we can go down with first sequence around 61.8%-76.8% extension of equal leg area before a short lived bounce and lower.
The situation is not critical yet as the structure from the highs is corrective but I would rather stay on the sidelined for now in BTCUSD and prefer other instruments in coming sessions until uncertainty is resolved.
I don't like to sell here or higher either.
Tomorrow daily video will explain the different scenarios in the 4h time frame.
Every week, for one particular cryptocurrency, in addition to the charts that I upload on TradingView, I will put the full comments and trade setup for different time frames:
- Daily on Sunday,
- 4h once a day during Asia session and
- 1h twice a day in Asia (post US) and Europe sessions.
This week 13/05/2018-19/05/2018, I propose BTCUSD
Disclaimer:
This content is provided for educational purposes only. The Trader's Corner is not registered as an investment adviser and the information shared on the website or any other medium is not meant to be a solicitation or recommendation to buy/sell any instrument. Any trades placed based on our content are at the own risk of the viewer. Trading include risks and loss of capital. Future trading results can never be guaranteed.
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